***SUBSTANTIAL COMMERCIAL INVESTMENT*** Opportunity to purchase a fully-let commercial investment comprising 5 ground floor shops let to 4 tenants on Effectively Full Repairing & Insuring leases at a total rent of £38,200 per annum. The shops are conveniently located for access to the City Centre, Bristol Temple Meads, and the M32 Motorway. Offered for sale Freehold subject to the long Leaseholds of the flats above not included in the sale.
A terrace of 5 ground floor retail shops, fully let to 4 tenants on Full Repairing and Insuring leases producing £38,200 per annum. All the shops are let to local covenants, and are maintained to a good standard. Parts of the property (nos. 46-48) are Grade II listed, and include original shop fronts and attractive period features.
Occupying a prominent corner position on Old Market Street, the property provides easy access to Bristol City Centre, Bristol Temple Meads station and the M32 Motorway. Situated in close proximity to Cabot Circus, Old Market Street is home to a variety of independent businesses and with various redevelopment projects underway is becoming an increasingly popular location.
ENERGY PERFORMANCE CERTIFICATE -
No. 45: Rating - D, No. 46: Rating - D, No. 47: Rating - C, Nos. 48/49: Rating - C
LEASE DETAILS -
45 OLD MARKET STREET (TRADING AS DEOCRAFT CAKES) -
Approximately 370 sqft. Let to a bespoke cake maker (sole trader), on a 3 year lease from November 2018 (renewal of a 3 year lease from November 2015) at a rent of £6,750 per annum, on an Effectively Full Repairing and Insuring basis (recoverable by way of a service charge). The lease is excluded from the 1954 Act.
46 OLD MARKET STREET (TRADING AS RABBIT FOOD) -
Approximately 435 sqft. Let to an independent vegan cafe (sole trader) on a 5 year lease from February 2019, at a rent of £8,000 per annum, on an Effectively Full Repairing and Insuring Basis (recovered by way of a service charge).
The lease is subject to a 2 year Tenant Only Break clause, and is excluded from the 1954 Act.
47 OLD MARKET STREET (TRADING AS PAPRIKA STORE) -
Approximately 580 sqft. Let to a Hungarian grocery store (limited company and personal guarantee) on a 5 year lease from December 2015, at a rent of £7,950 per annum, on an Effectively Full Repairing and Insuring Basis (recovered by way of a service charge). The lease is excluded from the 1954 Act.
48 & 49 OLD MARKET STREET (TRADING AS GLITCH) -
Approximately 1070 sqft. Let to a multi-functional retail space incorporating hair salon, house plant shop, and event space (sole trader) on a 10 year lease from April 2017, at a rent of £15,500 per annum, on an Effectively Full Repairing and Insuring lease, with a 5 year break and review. The lease is excluded from the 1954 Act.
JOINT AGENTS -
Quintons Chartered Surveyors, Shane Prater MRICS - 01635 262510
FLOOR PLAN -
The floor plan is provided for indicative purposes only and is not to be relied on.
Strictly by appointment with Maggs & Allen.
All figures are quoted exclusive of VAT unless stated.
CONTROL OF ASBESTOS REGULATIONS -
As per the Control of Asbestos Regulations 2006, the owner or tenant of the property, or anyone else who has control over it and/or responsibility for maintaining it, must comply with the regulations which may include the detection of and/or management of any asbestos or asbestos related compounds contained at the property. Maggs & Allen has not tested or inspected for asbestos and therefore recommend all interested parties to make their own enquiries.
Maggs & Allen use all reasonable endeavours to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.